Your equity line was at zero while your balance line was around 50% profit. So you are holding onto losing trades for a long time. Interesting.

Yes I am My bias for this one specific pair doesn't change. I actually have the other one that I hold and I just closed it out. My plan next month depending the fundamental/technical will be, I will closed them out so hopefully my equity is back up to 100%. I have a plan don't worry

Yes I am My bias for this one specific pair doesn't change. I actually have the other one that I hold and I just closed it out. My plan next month depending the fundamental/technical will be, I will closed them out so hopefully my equity is back up to 100%. I have a plan don't worry

Yes I am My bias for this one specific pair doesn't change. I actually have the other one that I hold and I just closed it out. My plan next month depending the fundamental/technical will be, I will closed them out so hopefully my equity is back up to 100%. I have a plan don't worry

OH MY!!!

YOU ARE BACK!!!

Welcome back!!!

Well, I also hold on to losing trades, but that is part of the plan for now... 2%? Well, it is still a positive outlook...

It was the AUS/USD the longest one that I so wanted to closed on. I am short since 0.9060 so yes. I will be willing to closed this thing out next month depending upon the RBA rate/policy and the unemployment changes and Of course any changes in China might help my short. Kiwi looks like a good potential short as well. I have been shorting this pair last week and this week. I will see if it breaks down below the 0.8500 support line. Then there is EUR/USD potential short as well.

Any tips for me where is the best place to exit this Aussie out ? But yes, I am willing to take a bullet on this pair.

Though, I am also learning how to look at long term trades like swing trading or position one . Lately, it's been difficult for me to monitor my short term trades in NYO session due to my work scheduled and I have missed so many good opportunities. Oh well, I guess I will figure it out as I go.

PS - It has not uploaded this past week's data because FXCM trading is not accessible now (weekend maintenance).

Lol what is this... Show and Tell? Lol Good to see you too!

I am in the point right now were I have to juggle things out (work and trading) and I don't want this to affect my performance in my trades. Life work and trading balance it is! I like to be busy but common give me more free time on here ... Please lol that is why I am okay whatever percentage I've got for the month as long as it is not in the red..

Glad to see that your account is slowly progressing. About 16% to go to breakeven... Nice!

I know what you mean... we are not full-time traders...it is a balancing act between full-time jobs and part-time trading... and 'having a life' (love, friendships, going out, shopping, cooking, and... SLEEPING)!!

Yes, 16% has actually gone down this week, as I have bagged a few more hundreds (of pips), so it is going ok! My equity is moving in tandem with my account, but in the red (my open positions, you see), so I am now trading fewer trades, to let things rebalance themselves. I am getting to know my trading better every day... It is actually a joy!

It was the AUS/USD the longest one that I so wanted to closed on. I am short since 0.9060 so yes. I will be willing to closed this thing out next month depending upon the RBA rate/policy and the unemployment changes and Of course any changes in China might help my short. Kiwi looks like a good potential short as well. I have been shorting this pair last week and this week. I will see if it breaks down below the 0.8500 support line. Then there is EUR/USD potential short as well.

Any tips for me where is the best place to exit this Aussie out ? But yes, I am willing to take a bullet on this pair.

Though, I am also learning how to look at long term trades like swing trading or position one . Lately, it's been difficult for me to monitor my short term trades in NYO session due to my work scheduled and I have missed so many good opportunities. Oh well, I guess I will figure it out as I go.

Thanks!

I am getting a strategy now where I use entry orders (something that I used to use but then left behind for a while, and have returned to of late) based on a combination of the following:

major trend-lines (support and/or resistance);

Fibonacci levels (through higher time-frames);

round-number levels, e.g. in EUR/USD: 1.3800, 1.3700, etc.

For example, if there was no major support trend line (and/or Fibonacci level) between, say, EUR/USD 1.3800 and 1.3700, i.e. there was a clear run of onehundred pips, and the Euro was bearish, I could set an entry order a few pipsbelow 1.3800 and set the limit a few pips above 1.3700 (the stop, accordingly,could be the same distance, or half, depending on your R/R ratio)...

I am testing this out but it has worked a few times... Trying to pick the spotis usually not that difficult under normal conditions: a 'few' pips, say, undera round-number level tends to be reached once a pair has cleared that levelwith some conviction... I am getting to observe that many times a pair will go,say, in the case of EUR/USD, below a round-number level by a few pips, say1.3790, and then bounce back up above 1.3800 (even in the absence of otherresistance, purely on the basis of the round-number level being a collective,psychological barrier); HOWEVER, once you get to, say, 1.3780, it is then morelikely that the 1.3800 level will have been cleared for good... If you wanted tobe even more sure, you could lose a few more pips of the initial break belowthat level and put an entry trigger at 1.3770... If your limit were at 1.3710,you would still have bagged sixty (60) pips, if the pair hit your profit... Conversely, if you felt that your profit level was too close to the next round-numberlevel (1.3700) and the pair would just bounce back before getting there, you couldset your profit slightly above it, say, 1.3715 or even 1.3720... Even so, you wouldhave bagged no less than fifty (50) pips, without any sweat... And then you couldreplicate this across many pairs, to the upside as well as to the downside... It doesseem to work, but I am not getting too fixated on it, and it is not always suitable(think of a high-impact news release situation, for example, where lots of spikeswould potentially trigger your order, miss your profit, and then stop you out)...

It was the AUS/USD the longest one that I so wanted to closed on. I am short since 0.9060 so yes. I will be willing to closed this thing out next month depending upon the RBA rate/policy and the unemployment changes and Of course any changes in China might help my short. Kiwi looks like a good potential short as well. I have been shorting this pair last week and this week. I will see if it breaks down below the 0.8500 support line. Then there is EUR/USD potential short as well.

Any tips for me where is the best place to exit this Aussie out ? But yes, I am willing to take a bullet on this pair.

Though, I am also learning how to look at long term trades like swing trading or position one . Lately, it's been difficult for me to monitor my short term trades in NYO session due to my work scheduled and I have missed so many good opportunities. Oh well, I guess I will figure it out as I go.

Thanks!

Ah yes the Aussie. That shot up from .8700 due to the RBA saying they were not going to cut rates further. At this time, the markets position was extremely short on Aussie, so once the threat of future cuts were lifted, it had plenty of room to go upwards. Classic short squeeze. The RBA also stopped using the term "uncomfortably" high to describe the Aussie, which helped it appreciate since the RBA wasn't trying to jawbone it down.

I'm guessing you shorted march 23rd after the Chinese pmi which came in lower. This would typically drop the Aussie, but it didn't because the market was actually expecting china to announce stimulus soon following the PMI. The Chinese announced the stimulus April 3rd. Another reason it kept rallying past your entry was that the three big data points before your entry came in much higher then expected. GDP came in high, employment came in VERY high and retail sales came in high. This actually caused expectations for a rate hike to have been being brought forward and this added to the short squeeze.

Currently, the big bearish factors for the aussie is its government budget (announced last week) that will trim growth from the Australian economy and iron ore prices dropping. The US dollar is also too weak right now and will begin appreciating for the rest of the year which should add downwards pressure on this pair. Chinese PMI came in higher then expected which could support the pair above .92 in the near term, but I think this will be temporary and it will fall under .92 maybe after a test of .9280 or .9300 again. The big support line that it will probably have a hard time breaking through on the first attempt is 0.9140, if it were me that's where I would be looking to exit.

The next Aussie employment numbers will probably be on the weaker side.

Sounds like a good plan. I won't be able to use the Fibonacci level since I use my iPhone to trade ( as far as I know, iPhone don't have this features available).The funny thing is, I did tried to upload my MT4 into my work laptop computer but for some reason, I got virus on it lol and it slows my computer down not sure if that what causes it. I have no clue. I took it into our IT department to fixed my laptop then when they return it to me, they deleted my MT4 lol. Opps. I was waiting for them to question me about that one but they didn't . Well, I didn't upload it again. I am thinking right now if I should lol.

I could probably set something like that.. I just really need to figure this out. I'll find away. I always will

Oh my, yep you are right. You are absolutely right! Thank you for explaining that in such a way that I still remember when I was reading those and how stupid I was going in there in the first place lol. Yep, I am actually planning on exit out and take a lost at about 100 pip or so. Your proposed exit of 0.9140 is just about right...

I think you just confirm what my plan is... I really appreciate your help. Thank you!

Bigdiddy999:

Ah yes the Aussie. That shot up from .8700 due to the RBA saying they were not going to cut rates further. At this time, the markets position was extremely short on Aussie, so once the threat of future cuts were lifted, it had plenty of room to go upwards. Classic short squeeze. The RBA also stopped using the term "uncomfortably" high to describe the Aussie, which helped it appreciate since the RBA wasn't trying to jawbone it down.

I'm guessing you shorted march 23rd after the Chinese pmi which came in lower. This would typically drop the Aussie, but it didn't because the market was actually expecting china to announce stimulus soon following the PMI. The Chinese announced the stimulus April 3rd. Another reason it kept rallying past your entry was that the three big data points before your entry came in much higher then expected. GDP came in high, employment came in VERY high and retail sales came in high. This actually caused expectations for a rate hike to have been being brought forward and this added to the short squeeze.

Currently, the big bearish factors for the aussie is its government budget (announced last week) that will trim growth from the Australian economy and iron ore prices dropping. The US dollar is also too weak right now and will begin appreciating for the rest of the year which should add downwards pressure on this pair. Chinese PMI came in higher then expected which could support the pair above .92 in the near term, but I think this will be temporary and it will fall under .92 maybe after a test of .9280 or .9300 again. The big support line that it will probably have a hard time breaking through on the first attempt is 0.9140, if it were me that's where I would be looking to exit.

The next Aussie employment numbers will probably be on the weaker side.

I thought I should post my response here as well from Libertysilver's thread. Its part of my Trading journey

Trusting our own instinct and have a better judgement for every trade takes time and experience. We cannot learn those just by reading a book , articles, etc. It all comes from experience. The more we trade and analyze everything, the more we will get comfortable as to when to take on a trade , to hold or when to closed on a trade.

I still have a lot to learn. 2 1/2 years is not enough experience (I think) to justify that but as long I am making progress I am okay with it. I too I do not like losing but I know when I lose and I feel like I have to or wanted to get my money back is the time when I needed to stop and think because I know I will just do a "revenge" trade and I will lose more than I win... When I have a good amount of loses, I sit back , take a break, and I do not look on my chart or look for any trade to take. There is always the next day or next opportunity to come.

An example is when I had a lost of 8% last month. Do I want to win those back this month? Absolutely! I do. But if my only reasoning is to take on a trade just because I want to get it all back rather than take on a trade with a higher probability set up then , more than likely, I will lose more. Instead, I just focus on this month and try my best to not to lose anymore. I know there is always opportunity, I just need to learn how to wait and act on those when the time is right.

Nope. I still have my Aussie. I already treat it as a lost but my plan out exit is not been reach yet. Though, this is my very first time holding into a losing trade this long. I just wanted to know how it feels like... And you know what ...I didn't feel a thing LOL I thought I will be so scared, cry and afraid, panicky, BUT nope non of that. I am probably immune to it....Oh well, thats to bad lol. I'll exit out when the time is right for me. I'll be okay

Great! Good to hear about your trades turn out well. Your account clearly shows that you are making progress and steadily making gains every month. What a big difference doesn't it when you just try to focus on the process and survival and not rushing into make a big chunk of money right away. I have observed around here that some just wanted to rush into everything! You CAN make money doing this no matter how much percentage it is but some just don't know how to keep them. It is better to have " something" than nothing at all.

It's really impressive that not only are you profitable, but you're trading off just an iphone!

Well done!

Hello green as grass,

It is great to see you! It seems it's been a long time. It is nice to see those familiar names again. Thanks for stopping by. I am really glad to see some of the folks that I talk to before when starting out. I hope you are doing well as well..

Yea, I don't really have much of a choice but to trade via phone. I just have to deal with it. Doing this for quite sometime now, I kinda like it. My laptop computer seems so big for me to look at lol I know it's weird but hey, whatever works right? Lol I was thinking maybe I should get more smartphones , maybe 5 smartphones, then put them all together and make my trading station out of it lol..just kidding..

It is great to see you! It seems it's been a long time. It is nice to see those familiar names again. Thanks for stopping by. I am really glad to see some of the folks that I talk to before when starting out. I hope you are doing well as well..

Yea, I don't really have much of a choice but to trade via phone. I just have to deal with it. Doing this for quite sometime now, I kinda like it. My laptop computer seems so big for me to look at lol I know it's weird but hey, whatever works right? Lol I was thinking maybe I should get more smartphones , maybe 5 smartphones, then put them all together and make my trading station out of it lol..just kidding..

Thank you!

I have been looking for photos on Google, as evidence that this may not be a far-flung theory, but it seems that "several mobile 'phones stuck together" does not yield any meaningful results!

Perhaps, PipNRoll, you could be the first to carry out experiments in this area and become the Jedi of Smartphone Trading!Send photos for evidence to BabyPips, of course ...